Dear User Advisorymandi.com or Pro advisory Championship (PAC) having purpose to provide you analytical skills of numbers of SEBI registered Research Analysts and Investment Advisers to choose best one among them for your hard earned investments. We Advisorymandi.com or Pro advisory Championship (PAC) not promote any adviser or provide any advise through Call, SMS and Social media platforms or give assurance of any return.

Register as Broker

Interested In

Update Profile

Gold set for first weekly drop in four, Trump policy in focus

REUTERS - Gold remained volatile in Asian trade on Friday and was set for its first weekly decline in four, with investors continuing to mull over the economic outlook after Republican Donald Trump won this week's U.S. presidential election.

Spot gold was up 0.2 percent at $1,262.20 an ounce at 0458 GMT. The metal fell to an over three-week low at $1,250.70 as well as rising to as much as $1,265.40 earlier in the session. It was set to end the week down over 3 percent.

U.S. gold futures were down 0.4 percent at $1,261.60 per ounce after falling as much as 1.3 percent to a four-week low of $1,250.40 earlier.

The dollar hovered near a 3-1/2-month high versus the yen on Friday, after making big gains overnight as the markets prepared for a Donald Trump presidency that could stimulate the U.S. economy fiscally and lift interest rates.

"The stronger U.S. dollar and a more conciliatory tone from Trump continues to weigh on investor demand," ANZ analysts noted.

The latest U.S. jobs data showed the number of Americans filing for unemployment benefits fell more than expected last week.

The Federal Reserve could raise interest rates more quickly if Washington used lower taxes or higher spending to boost economic growth, Richmond Fed President Jeffrey Lacker said on Thursday.

Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.

The dollar index, which measures the greenback against a basket of major currencies, fell 0.1 percent to 98.672 on Friday.

"Gold is moving according to the dollar. The financial sector seems to have stabilized for a second day on Thursday," Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong, said on Friday.

"Some strong physical buying at the lower end is keeping gold from not falling too much. Whenever there is a dip, we have seen strong buying," Leung added.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 1.4 percent to 941.68 tonnes on Thursday from 955.03 tonnes on Wednesday.

Spot gold may bounce moderately to resistance at $1,271 per ounce before falling, as it has found a support at $1,255, according to Reuters technical analyst Wang Tao.

Silver was down 0.2 percent at $18.54 an ounce but was on track for a fourth weekly rise.

Platinum slipped 0.5 percent to $966.98 an ounce. The metal hit a fresh two-week low of $958.50 earlier in the session.

Palladium was up 0.7 percent at $693.20 an ounce. The metal touched a high of $697.90 earlier in the session on Friday, its highest since Oct. 5.

Dr. Ravindra Dhivare

Dr. Ravindra Dhivare

Advisorymandi.com is really appreciable . As they give proper calls & levels with proper SL. Advisorymandi,com teaches us, how to trade in share market in proper way. Personalized services also tell you about your services like, phone calls, reminders & other suggestions are really very appreciable with polite conversations.
Outstanding team effort as they are very cooperative , polite and helps in sorting out problems and queries in best possible manner.

SHAKTI

Working with Advisorymandi.com was the best decision of my life. The work is highly credible. A BIG... Read More

SHAKTI

Working with Advisorymandi.com was the best decision of my life. The work is highly credible. A BIG THANKS for their virtuoso services.

ADITYA

ADVISORYMANI.COM is a platform where you can know everything about share market and how to trade?It... Read More

ADITYA

ADVISORYMANI.COM is a platform where you can know everything about share market and how to trade?It is a best Platform for a beginner who has just started trading. Employee of advisorymandi are very friendly. They are always ready for you to help in any condition. From my opinion every beginner who wants to be a successful trader , they the should join "ADVISORYMANDI.COM"

MANDEEP

YOUR WORK SPEAKS VOLUMES OF THE KIND OF CONCEPTS IT IS-EFFICIENT,ORGANIZED and RESULT ORIENTED. WELL... Read More

MANDEEP

YOUR WORK SPEAKS VOLUMES OF THE KIND OF CONCEPTS IT IS-EFFICIENT,ORGANIZED and RESULT ORIENTED. WELL DONE!! ADVISORYMANDI.COM AND TEAM

Experts Pick

Rekha Chauhan

Weekly Outlook-Nifty

After forming Harami Pattern in weekly chat in the past two weeks, the NSE benchmark Nifty managed t...

Rekha Chauhan

Research

Rekha Chauhan

Weekly Outlook-Nifty

After forming Harami Pattern in weekly chat in the past two weeks, the NSE benchmark Nifty managed t...

Rekha Chauhan

Research

Rekha Chauhan

Weekly Outlook-Nifty

After forming Harami Pattern in weekly chat in the past two weeks, the NSE benchmark Nifty managed t...

OPINION POLL

Will Nifty attain previous Budget high(11,180) this year again?

Yes

No

Can't Say

Total Votes: 2010

Enter email-id to share this news

Important Information

Please fill the required Disclosure/Disclaimer.

Disclaimer

The information and material contained in these pages and the terms, conditions, and descriptions that appear are subject to change without prior notice. Investments in equity shares, debentures, commodities, etc, are not obligations of or guaranteed by the ADVISORYMANDI , and are subject to investment risks.....More